Key features of the Personal Pension Account …

1 Key features of the Personal Pension Account ( series 1 & 2) Personal Pension Plan ( series 3) FutureProof Individual Pension PlanThe Financial Conduct Authority is a financial services regulator. It requires us, Clerical Medical, to give you this important information to help you decide whether our Plan remains right for you. You should read this document carefully so that you understand what you are buying and then keep it safe for future reference. These key features should be read with the enclosed aims To build up a sum of money in a tax-efficient way to help support you financially in retirement.

2 To enable you to take out extra life cover to provide your family with an extra cash sum if you die before you take all your Pension benefits. Your commitment To make the contributions you agree to pay. To tell us if you are no longer entitled to receive tax relief on your contributions. If the plan includes extra life cover, you must answer all questions in the application honestly and fully. Risks The value of your plan can go down as well as up, and could fall below the amount(s) paid in. What you ll get back isn t guaranteed. The illustration shows, in today s prices, the final fund values and benefits that might be payable at your selected retirement date.

3 These would be lower than illustrated, if, for example: You don t make all the payments. Investment performance is lower. You take any Pension encashments. The cost of buying your Pension is higher. You start taking your Pension earlier than your selected retirement date. The charges are higher. Inflation is higher than we ve assumed. Tax rules change. Yo ur plan can invest in a range of investment funds that carry different types and levels of risk. In certain circumstances, there may be a delay if you ask to transfer the value of your plan or switch between investment funds.

4 If you re encashing units from the property fund, or any fund that invests partly in property, we may postpone encashment for up to six months. This is because these assets can be less easy to sell than stocks and shares. Property valuation is a matter of judgement by a valuer. The delay for all other funds will be no more than one month. Self-Invested Fund investments, which are available for the FutureProof Individual Pension Plan only, must be converted into cash before switching into a unit-linked fund and/or the With-Profits Fund. If the plan includes extra life cover, we may not pay any claim, have to amend the terms of your cover or at worst cancel your cover if you don t answer the questions honestly give us incomplete or misleading answers, or do not advise us of a change in the information you provided in response to our questions prior to the date we have agreed the terms of your cover.

5 If you change your mind within 30 days of receiving your cancellation rights and the value of any lump sum investment has fallen, you may get back less than you ve paid in. If you transfer from another Pension plan, you could lose any guaranteed benefits and may not be able to return to it. If money is taken out of the With-Profits Fund other than on death or at the selected retirement date, we may make a reduction called a market value reduction (MVR) and pay out less than the face value of your units. We will only do this if the face value of your units meant your investment would be worth more than your fair share of the With-Profits Fund.

6 If you are investing in the With-Profits Fund (available only to plans started before 6 April 2005), please refer to Where are my contributions invested? .Questions and answersIs this a Stakeholder Pension ? No. For example, our minimum contribution levels and charges may be higher than those set by the Government for Stakeholder Pensions. Stakeholder pensions are generally available, and may meet your needs at least as well as this plan. What contributions can be paid to my plan? Monthly, yearly and single contributions can be paid by you, provided you re a UK resident or a UK taxpayer.

7 Other individuals can also pay contributions on your behalf and we may also be able to accept transfer payments from other Pension plans. Regular contributions can be paid monthly or yearly by direct debit. Single contributions can be paid by cheque or electronic transfer at any time. Minimum contribution levels apply and can change from time to time. Please refer to your product charges leaflet (included with your most recent yearly statement) for further details. You can change the amount of regular contributions, or make additional single contributions, at any time. You can decide to automatically increase regular contributions each year.

8 If you stop or decrease your contributions, it will reduce what you might get back. You can ask us for further details. There is no maximum limit on how much can be paid to your plan, although we can only accept contributions from you that are eligible for tax relief. See What about tax? for further details. If you re eligible to join an employer s Pension scheme, you should consider whether it is more suitable for you before deciding to make any contributions to this are the contributions invested? Contributions and transfer payments are used to buy units in the investment funds you choose.

9 We work out the value of your plan based on the total number of units you have in each fund. The value of units and therefore the plan, can fall as well as rise. We offer a wide range of funds for you to choose from. For more details on your investment options please go to our website Your financial adviser will be able to help you make your choice. You can redirect where future contributions will be invested to change the mix of investments; there is currently no charge for doing this. You can also switch your existing units in and out of various funds. In certain circumstances, there may be a delay in switching.

10 For the Personal Pension Plan ( series 3), there may also be a charge, as described in the product charges leaflet (X669a) included with your most recent yearly statement. We may change the selection of funds that we make available and restrictions can apply. FutureProof Individual Pension Plans can select a lifestyle investment programme . This means we will automatically move your investments into lower risk funds as you approach your selected retirement date. See the Choosing investment funds Lifestyle Investment Programming booklet (X1678) for full details. FutureProof Individual Pension Plans may also have access to the Self-Invested Fund which would allow you to invest in a wider range of assets.